New ideas based on high-technology research have a high failure rate because they hit the ground running with lopsided priorities and misalignments. Students complete this course with an Innovation Creed (“Why are you doing this?”) and a customized Idea Filter (“Are you working on the right priorities?”)—2 simple tools that steer concept-stage commercialization to success.

Ministrado por

Mark Wilson

Transcrição

Welcome back, a little recap where we've been. We've gone through top reasons why stunt technology commercialization, we've mapped those reasons into questions so we actually have a great start towards an idea filter. Imagine if people ask themselves the right questions upfront and they answer them honestly. They go a long way to shaping their ideas towards success and finding the weak areas and finding why one idea is better then another et cetera. So, but let's keep going towards building our idea filter. The next step is to create, take those questions and map them into a template for an idea filter. The questions don't vary too much for any innovation creed. No matter what different dimensions people are looking at for innovation that is driving them for innovation the questions are pretty much the same. The answers do tend to vary. The perfect answer varies quite a bit based on your innovation creed. Also the importance of certain questions. Stick out much more based on different innovation creeds. So imagine that we're looking at the world's perfect idea, which, of course, does not exist, but we, we have the world's most perfect idea here. And we're going to use that to stress our, ourselves a little bit to really find out. Which questions and which factors of technology commercialization are most important to us? We know everything's important but which ones are most important? Imagine the perfect idea right? We're all going to get rich very quickly. There's no competition at all. We're going to solve hundreds and millions of people's problems that will instantly buy our product and the other thing is business wise is, is great there's absolutely no risk and we don't need to buy any equipment or, or Have any bricks and mortar at all, so, that's the perfect idea. So we know the questions that should be asked early on. Let's go through some perfect answers for each of those questions. Now when I'm going down through these perfect answers, I want you to be thinking of, of several things at once. First of all. With your own ideas in mind, your own innovation creed, start to see which ones of those answers don't make sense to you, or you say, you know, that's not that important to us. And which of those answers say, yeah, that's exactly what we want. That's very important to us. So that's as your own entrepreneur and commercializing your own technologies. Next I want you to really put yourself more up at looking at the idea system and an innovation system. And start to realize how ridiculous it really is that one idea, any one given idea, is going to be able to have this perfect answer for every single one of these factors. Many of them conflict with each other. And if you answer if an idea is, is really brilliant on one factor it's almost certainly not going to score so well answering another one of the factors. So keep, keep that in, in mind as well. So lets go through these. And in a, in a way what I'm going to do is role play. That I am an investor or a, a partner or a potential partner interviewing, back to that magnifying glass that we talked about earlier. So I'm asking myself over here tell me about your idea, and then I'm going to, I'm going to give that perfect answer because I have the world's. Perfect idea. There's never been an idea as good as the one I have. Right? So, hi, I'm going to ask you a few questions about your idea here. First I wanted to get started with the with the product area. You know, what's, what's your product? Well it's, it's very clear what we're going to sell and I'll talk about that later, by the way, and how that's. Sounds like such an easy answer, but with technology and research, often it isn't. So, yeah, it's very clear the product that we are planning to sell, the offering that we are planning to do, it, as far as to protection, fantastic. There's a lot of really strong protection already and, and more on the way with patents and trade secrets and. Does it have a lot of applications? Absolutely. This is, this is a billion, $2 billion company, just ours alone I mean we're, we're going to be all over the world and all over the place. And there's follow-up product families and all kinds of renditions that are going to keep going for a 100 years. We have absolute strong advantages over all the other competition. In fact there is no competition. It's just incredible. We're we're, we're way out ahead of everyone. That's great, can you tell me about the market. Well I'm glad you asked about the market' cause the idea is phenomenal. If we really look at, at one person, the problem that one particular person has, it's huge. They're dying without the, our product. They're, they're actually dying. People are dying and getting sick, spending hundreds of thousands of dollars trying to to regain their quality of life or lengthen their lives. So it's just. We're talking about a very, it, the ultimate pain. And the market size is huge, more and more of this is happening everywhere. The trend is just huge. Year over year growth in this area is, is phenomenal. There's new companies and new offerings popping up all the time in this area that, that, that are gaining a lot of traction. We can take all that share, we, we plan to be really almost a monopoly in this case and we, we've got a sales force that's going to be able to, to get out there in the world and penetrate everything right away. We got first mover advantage. Here so we're, really the first one's to, to make a move in this area. selling. The, all the constituents, this is an easy sale. Everyone in the whole supply chain in as far as purchasing and inventory control, value analysis, technology review committees, they all love this product. There's not one person that's trying to block it from coming forward. Pretty good idea so far, isn't it? The team, we haven't even gotten to the team, obviously very important factors here. And our idea is just phenomenal. First of all we, we're already committed. We, we have we're all experts in the field. And we're committed. We have three or four people working full time. For no pay. We've been doing that for a couple of years already. We've got several part time folks that are volunteering, we've hired some people for very cheap price. And so we've got one heck of a, of a precede team. It's easy to assemble a full team. This doesn't take a lot of expertise, there's not specific people that are needed. And we can easily put, build out our org chart here, in our town, it's easy to hire. We don't, we don't have to go looking for expertise elsewhere. The other thing that's great is, we are just working off our laptops. You know, this is a phone app, it's, there's, there's virtually nothing needed. We don't need a factory. We don't need equipment. So there's no capital expenditure at all. We meet at canal town coffee shop for our meetings and sip coffee, and,and chat there. And then we go back to our houses and work on our laptops and it's, that's the other thing that's just brilliant about this. The only thing you really need is a phone and a laptop and you're in business. And then the supply chain. Its,we're not inventing anything new. there, we have partners that are already, that are already willing to work with us and that we've been working with on our Beta, distribution models. No's ones confused at all about the distribution model in this case. And we haven't even gotten to the business yet. the, the The unit, m, margin is phenomenal. Really, it's just huge. Once we build one of these things, that's expensive, but the second one is practically free. It's virtually 100%, profit in our business. it, we're ready. Tomorrow to start selling. There's start up, there's no risk at all. This has been proven technically. It absolutely works. Market wise, there's already companies that are selling these things. So we know the market place is ready for it. Ours are, of course, better. But there's no risk at all left with our idea. There's no technical risk left, there's no market risk. We can start tomorrow and we don't need any money at all. There's no money at risk. There's, there's nothing really to risk. We've each put in couple of hundred dollars. A couple of thousand dollars whatever very small amounts of money. So, there's, so that's the other thing, we don't need, we don't need any rounds of, of capital, or there's, there's really no money at all. So there, we've run down the, what are the perfect answers to to the perfect idea. And, I think you can see, as I role play that, how ridiculous it is. The interesting thing is that these types of pitches almost exist in the world. And, we hear. Scientists and engineers and entrepreneurs coming forward and almost sounding as ridiculous as that. Of course they don't have the perfect idea. So, they need to know their own weaknesses. They need to know that one idea has certain strengths, but it has certain weaknesses. And if you look at another idea. It might have the opposite, it might be strong in other areas, but it'll still have its own weaknesses, there's no perfect idea. So this idea of filtering system is a framework to try to help bring some of this reality on both sides of that magnifying glass to the entrepreneurs. The people trying to push their technologies forward as well as from the, the business and the market side of the people trying to help move that forward